Cable Forum - PM Boris forms a government

The UK economy has returned to recession, after shrinking by 0.2% in the first three months of 2012.

A sharp fall in construction output was behind the surprise contraction, the Office for National Statistics said.

A recession is defined as two consecutive quarters of contraction. The economy shrank by 0.3% in the fourth quarter of 2011.

It was then updated by the ONS in June 2013

https://www.bbc.co.uk/news/business-23079082

Quote:

Updating its historical data, the Office for National Statistics (ONS) said growth was flat in the first quarter of 2012, revised from an earlier estimate of a 0.1% contraction.

Update - Looking st the ONS site, it supports your assertion - apologies.

https://www.ons.gov.uk/economy/gross...priltojune2019

1andrew1

09-08-2019 22:26

Re: PM Boris forms a government

Boris's approach is definitely to intervene and spend in a more Labouresque manner than either Phil Hammond or George Osborne This is shown by the £300m being given to keep British Steel afloat.
https://news.sky.com/story/ministers...ckage-11781023

Sephiroth

09-08-2019 22:35

Re: PM Boris forms a government

Quote:

Originally Posted by 1andrew1 (Post 36005551)

Boosts for business is exactly what we need right now.

Pierre

09-08-2019 22:48

Re: [Update 2] PM Boris forms a government

Quote:

Originally Posted by Hugh (Post 36005535)

Small flaw in that theory - the 2012 recession was caused by negative growth in the last quarter of 2011 (Oct-Dec) and the first quarter of 2012 (Jan-Mar 2012),

The Olympics were in July/August 2012...

Anyway, after its historical data, the Office for National Statistics said growth was flat in the first quarter of 2012, revised from an earlier estimate of a 0.1% contraction. This means the economy did not contract for two quarters in a row - the definition of a recession.

Don't shoot the messenger, take it up with him. I’ll side with him for now.

---------- Post added at 21:48 ---------- Previous post was at 21:46 ----------

Quote:

Originally Posted by Hugh (Post 36005541)

Update - Looking st the ONS site, it supports your assertion - apologies.

https://www.ons.gov.uk/economy/gross...priltojune2019

Ooh that was lucky, I could have been shot!

Carth

10-08-2019 10:01

Re: PM Boris forms a government

Taken from the link above regarding British Steel . . .

Quote:

Ministers agree £300m British Steel support package
Turkey's military pension fund has offered nearly £70m to buy British Steel out of insolvency, Sky News can reveal.

excuse me if I appear thick, unable to comprehend written English, or simply way off the mark with how things work in world politics . . but shoving £300m into something that's then sold for £70m is confusing me :dunce:

jfman

10-08-2019 10:42

Re: PM Boris forms a government

Quote:

Originally Posted by Carth (Post 36005586)

Taken from the link above regarding British Steel . . .

excuse me if I appear thick, unable to comprehend written English, or simply way off the mark with how things work in world politics . . but shoving £300m into something that's then sold for £70m is confusing me :dunce:

Some of it is loans.

It’s basically corporate socialism. Capitalism doesn’t cover losses to the Government has to step in. See collapsed pension providers, train operators and banks.

1andrew1

10-08-2019 10:45

Re: PM Boris forms a government

Quote:

Originally Posted by Carth (Post 36005586)

It's called buying votes or supporting disadvantaged regions depending on your perspective.

denphone

10-08-2019 10:52

Re: PM Boris forms a government

Quote:

Originally Posted by 1andrew1 (Post 36005590)

It's called buying votes or supporting disadvantaged regions depending on your perspective.

Its called State aid in all but name.

Carth

10-08-2019 11:00

Re: PM Boris forms a government

err . . . nope, still don't understand it :shrug:

unless it means that 'rules and regulations' of one description or another state that the UK cannot purchase British Steel for £70m, and must instead pay out a £300m supporting grant to allow a different Country to purchase British Steel

Not that British Steel has been British for ages anyway :D

Chris

10-08-2019 15:33

Re: PM Boris forms a government

Steel is a strategic resource, as is the ability to produce it domestically. It isn’t especially important who owns it, as in time of deep national crisis - eg a major war - it can quickly be nationalised under emergency powers. But it can’t be nationalised if it doesn’t exist. So spending the money to keep the works going is sound strategy.

Mr K	14-08-2019 19:34

Re: PM Boris forms a government

See Boris has used the word 'collaborators' for anyone that he doesn't agree with. Him and his loony backers still think it's the Second World War... Never mind, rationing soon, which they'll love !

daveeb

14-08-2019 20:34

Re: PM Boris forms a government

Quote:

Originally Posted by Mr K (Post 36006026)

See Boris has used the word 'collaborators' for anyone that he doesn't agree with. Him and his loony backers still think it's the Second World War... Never mind, rationing soon, which they'll love !

I haven't seen powdered egg on the shelves yet, the supermarkets are probably working on the recipe as we speak :D

Damien

14-08-2019 21:30

Re: PM Boris forms a government

He knows what he is doing by using the term collaborators specifically so presumably they have calculated that the reaction will be something they want.

Chris

14-08-2019 22:57

Re: PM Boris forms a government

It’s classic dog-whistle campaigning. The usual remain-minded individuals will be enraged, but this isn’t for their benefit, it’s aimed at would-be Farage or Labour voters who might be persuaded to vote Boris in the forthcoming election that isn’t happening.

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